Jim or James Grant is one of the country's premier financial analysts and historians, has had a front row seat on Wall Street for more than three decades. Unlike most people who work on Wall Street, moreover, Jim actually works on Wall Street: His office is right across the Stock Exchange. Jim also was one of the first fierce critics of Alan Greenspan while many economists were “worshipping at the altar of Greenspan”. Grant it seems proved to be correct about Greenspan as he helped induced one of the greatest bubbles ever with his low interest rate policy.
A former Barron's staff writer, Jim founded the beloved Grant's Interest Rate Observer close to 30 years ago. Even in an age of 24/7 online news, the publication remains one of the leading authorities on debt, bonds, Japan and the economy. He has authored numerous books which contain his witty sense of humor. Some of his more famous books includingMr. Market Miscalculates: The Bubble Years and Beyond,Money of the Mind,The Trouble With Prosperity: A Contrarian's Tale of Boom, Bust, and Speculation, and several other books. As noted here Seth Klarman recommends reading all of Grant’s books.
The interview was conducted by Henry Blodget of Business Insider:
Below is a brief excerpt from the video, followed by video. The interview was over half an hour and has been released in segments I have posted all the segments that have been released to date. Enjoy!
Henry: Yes. Foremost. Exactly. Where is America?
Jim Grant: Are we are an empire in decline, as some people say , or is this a lost decade, or is it going to be, eventually, morning in America? People will say more or less, seemingly apropos of my line of work, where will interest rates be in six months? And I confess that, as to the weather tomorrow, I'm a little bit in the dark , and certainly in the dark as to the future, with a capital "F". I used to, when younger, I was much more certain about such imponderables. I have, subsequently, become rather more agnostic. I am such an admirer of the late Henry Singleton, who ran Teledyne, that conglomerate, in the sixties, and his business plan was, upon showing up for work, to think of something, and let future take care of itself that's my approach, as well. People say that, because I've, perhaps in the past been bearish once or twice, people say that I'm a pessimist. Well, no. I'm a father of four.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.